How I Prepare Form E for Complex Trusts and Corporate Structures

As senior partner at Alexander JLO I have over many years advised high net worth clients whose wealth sits in complex trusts and corporate structures. Preparing Form E in those circumstances requires precision, commercial sense and forensic rigour. In this article I explain how I prepare Form E for clients with trusts, holding companies, nominee arrangements and multi-jurisdictional vehicles. I set out the legal framework in England and Wales, the practical steps I follow, the expert evidence I instruct and the defensive measures I deploy to protect legitimate confidentiality while meeting the court’s demands.

Why careful Form E preparation matters for complex structures

Form E is the core disclosure document in financial remedy proceedings. The court asks for a full and frank disclosure of the parties’ financial positions worldwide. For clients whose assets sit within trusts or corporate groups the court will look to substance not form. That means legal title alone does not determine whether an asset is part of the matrimonial pot. The court will ask who benefits from assets, who controls them and how easily value can be realised. Poorly prepared disclosure risks adverse inferences, costs orders and the setting aside of settlements. Thorough, timely and defensible Form E preparation protects credibility, narrows disputes and improves settlement prospects.

The legal principles I apply

I advise clients under the legal framework that governs financial remedies in England and Wales. Key principles I keep front of mind include:

– Full and frank disclosure: the duty to volunteer material information does not stop at minimal compliance

– Substance over form: the court examines beneficial ownership and practical access to benefit rather than legal title alone

– Continuing obligation: disclosure obligations persist as circumstances change and new documents emerge

– Proportionality and confidentiality: the court balances the need for disclosure against genuine commercial prejudice and will permit protective measures where justified

These principles shape how I structure Form E and how I advise on supporting evidence, expert instruction and confidentiality applications.

Initial client intake — building the disclosure roadmap

When I first meet a client with trusts or corporate complexity I follow a structured intake process to produce a disclosure roadmap.

1. Comprehensive asset mapping

I ask clients to list every vehicle in which they have a legal or beneficial interest. That inventory captures:

– Companies and subsidiaries including jurisdiction of incorporation and registration numbers

– Trusts foundations and similar fiduciary structures including settlor trustee and beneficiary details

– Nominee arrangements and any bearer share legacy structures

– Partnerships joint ventures and limited liability entities

– Bank and brokerage accounts corporate and personal

– Property holdings including assets owned by corporate or trust vehicles

– Pension arrangements and life assurance wrappers

I always seek to identify not only direct holdings but also contingent interests such as options, discretionary trust benefits, power of appointment and letters of wishes.

2. Source and provenance tracing

For each asset or contribution I record source of funds and timing. Was the asset acquired before marriage, during marriage, or after separation? Did family gifts or an inheritance fund the acquisition? Provenance evidence often proves dispositive when arguing that certain assets fall outside the matrimonial pot.

3. Control and access analysis

I examine who exercises control in practice. Who appoints trustees or directors? Who receives distributions? Who can compel the sale of an asset? The court will probe whether a client retains practical ability to extract benefit even where legal title sits elsewhere.

Document collection and organisation

Thorough documentary evidence distinguishes a credible disclosure from a patchy one. I assemble a bespoke documentary bundle for each Form E, organised to mirror the narrative set out in the Form.

Core documents I collect

– Trust deeds and any deeds of variation or settlement deeds

– Letters of wishes trustee minutes and distribution resolutions

– Company formation documents shareholder agreements articles of association and register of members

– Accounts audited and management accounts for several years where available

– Bank statements and transaction histories for corporate and trust accounts

– Share transfer records valuations and recent sell side or buy side documentation

– Loan agreements director loan accounts and intercompany balances

– Correspondence with trustees corporate service providers and family members that explains decisions

I also request certified translations where documents exist in foreign languages and any official filings from relevant registries.

Preparing the Form E narrative — clarity, brevity and documentary linkage

Form E requires both quantitative entries and narrative explanation. I aim to make the narrative concise but comprehensive and to link each assertion to exhibits that corroborate the facts.

Presenting trusts on Form E

When a client has involvement with a trust I include:

– A short explanation of the trust’s purpose and history

– Identification of settlor trustees protectors beneficiaries and any discretionary classes

– The source of trust funds and timing of contributions

– Evidence of any distributions to the client or to family members during the marriage

– Trustee minutes or correspondence that show independence or lack of it

Where the trust predates the marriage I emphasise provenance with documentary proof. Where the trust postdates the marriage I explain commercial or family reasons for its creation and highlight any contemporaneous professional advice.

Presenting corporate structures on Form E

For corporate vehicles I explain:

– The legal structure and ownership chain with a diagram if useful

– The client’s role and level of control including directorships and share classes

– How remuneration and benefits flow from the company to the client including dividends salary and loans

– Any restrictions on realising value such as shareholder agreements pre-emption rights or tax consequences

I avoid excessive legalese. Judges and case managers value a clear, accessible picture that the opposing party and the court can verify.

Valuation and expert evidence — selecting the right specialists

Valuation and forensic work underpin contested cases. I instruct experts early so their assumptions and methodologies align with the case strategy.

When to instruct valuers

I instruct valuation experts when:

– A company or trust holds material assets where market value is uncertain

– Future profit streams or goodwill form a large part of value

– Minority interests and liquidity discounts require technical analysis

I work with valuers to select suitable methodologies such as discounted cash flow multiples or net asset valuations and to explain adjustments for control and marketability.

When to instruct forensic accountants

I instruct forensic accountants when transactional tracing is necessary. Typical triggers include:

– Significant intercompany transfers around the time of separation

– Apparent payments to third parties that might mask transfers to family members or secret beneficiaries

– Director loan account irregularities or unexplained drawings

Forensic reports trace the movement of funds quantify diverted sums and produce exhibits the court accepts.

Dealing with multi-jurisdictional issues

When assets or documents sit across borders I coordinate local counsel and obtain necessary records by lawful means.

Letters of request and foreign records

Where documents sit in non‑English jurisdictions I use local lawyers to obtain certified copies and if necessary apply to the court for letters of request. Early coordination reduces delay and strengthens the credibility of the disclosure.

Understanding local law and trust tax regimes

I seek local advice on issues such as tax consequences of distributions trust law variations and company reporting requirements. That expertise shapes realistic valuation and extraction assumptions for the court.

Protecting confidentiality while meeting disclosure obligations

High net worth clients often worry about commercial prejudice from wide disclosure. I use the court’s protective mechanisms where justified.

Confidentiality rings and sealed exhibits

I routinely ask the court to establish confidentiality rings limiting access to specified documents to experts and counsel. I lodge sensitive documents as sealed exhibits where public disclosure would cause real commercial harm.

Targeted redactions with court approval

Where personal data or trade secrets appear in documents I propose narrow redactions and supply the unredacted versions to the judge and to counsel within the confidentiality ring. I file a supporting witness statement that explains the need for redaction.

Closed hearings

For genuinely sensitive evidence I apply for closed hearings in which the public and press are excluded. Courts grant closed hearings sparingly, but they will do so when commercial prejudice is substantial and alternatives are insufficient.

Responding to allegations of concealment — rapid forensic response

Allegations that assets remain undisclosed require a swift, evidence based response.

Immediate document retrieval

If the other side alleges concealment I instruct urgent searches of corporate records bank accounts and trustee files. Often the allegation stems from timing or incomplete records rather than deliberate hiding. Rapid retrieval and production of documents dispels misunderstandings.

Pre-emptive forensic analysis

Where transfers occur near separation I pre-empt attack by instructing forensic accountants to analyse the transactions and prepare an expert statement that explains the business reason for movements. That approach reduces the risk of interim orders and preserves negotiating position.

Using admissions and concessions strategically

In some cases a limited admission about a distribution or a concession on value secures a negotiated outcome that avoids protracted litigation. I weigh the benefit of tactical concessions against the long term interests of the client and the risk of further disclosure demands.

Practical pitfalls and how I avoid them

Clients often fall into predictable traps when preparing Form E for trusts and corporate groups. I prevent those mistakes proactively.

Pitfall: relying solely on legal title

I emphasise that legal title rarely immunises assets from scrutiny. I prepare evidence that explains beneficial arrangements and shows legitimate commercial purpose rather than hiding behind corporate form.

Pitfall: last minute transfers

I advise strongly against transfers made in haste close to separation. Where transfers are unavoidable I insist on contemporaneous documentation and professional advice to justify the transaction.

Pitfall: disorganised documentation

Disorganised or incomplete bundles create scepticism. I impose a rigorous document management system with clear indexing and exhibit cross referencing so the court and opposing counsel can verify entries without friction.

Pitfall: poor translation or inadequate local counsel

I insist on certified translations and early local counsel involvement. Incomplete foreign evidence is a common source of delay and challenge.

Checklist I give clients preparing Form E with complex structures

– Create a complete list of trusts companies nominees partnerships and related vehicles with jurisdiction details

– Obtain trust deeds letters of wishes trustee minutes and distribution records

– Collect three years of company accounts plus up to date management accounts

– Produce shareholder agreements articles of association director service contracts and board minutes

– Reconcile director loan accounts dividend vouchers payroll records and intercompany ledgers

– Compile bank statements for corporate trust and personal accounts showing material transfers

– Instruct valuation experts for material corporate or trust assets and forensic accountants where transactional tracing may be needed

– Prepare certified translations for foreign documents and engage local counsel early

– Propose confidentiality measures and prepare supporting witness statements to justify them

Concluding reflections — credibility, clarity and early expert instruction

Preparing Form E for clients with trusts and corporate complexity demands discipline, expertise and early action. A clear, evidence based narrative supported by expert reports preserves credibility and drives better outcomes. Concealment risks severe sanctions and rarely succeeds given modern disclosure tools and international cooperation. I advise clients to be candid with their solicitor, to assemble documents promptly and to instruct experts early. Doing so protects both personal interests and the commercial enterprise the client has built.

If you are a business owner, settlor, trustee or beneficiary faced with a relationship breakdown seek our specialist advice promptly. We can arrange a confidential review of your disclosure obligations, advise on valuation and forensic needs and prepare a defensible Form E that balances compliance with legitimate confidentiality where the law allows.

Alexander JLO Solicitors are well aware that going through divorce can be very difficult. Whilst the implementation of no-fault divorce back in 2022 has made the legal process much simpler, there are times, especially in relation to financial matters, when input from an experienced solicitor is vital.

With that in mind we have developed a revolutionary new service which will ascertain whether or not it’s wise to have legal advice on finances when going through divorce. Simply called Form Easy it will assess your level and type of assets and determine if you qualify for a free, no-obligation consultation to discuss your case with us and decide on the best ways forward for you. Simply click the Form Easy button, or visit the page here, answer a few short questions and we will let you have our input on whether we can help. 

At Alexander JLO we have many years of experience of dealing with all aspects of family law and will be happy to discuss your case in a free no obligation consultation. Why not call us on +44 (0)20 7537 7000, email us at info@london-law.co.uk or get in touch via the contact us button and see what we can do for you?

This blog was prepared by Peter Johnson on 2025 and is correct at the time of going to press. With over forty years of experience in almost all areas of law Peter is happy to assist with any legal issue that you have. He is widely regarded as one of London’s leading divorce lawyers. His profile on the independent Review Solicitor website can be found Here.

To follow up on any of the above please contact Guy Wilton of our family department. Guy has wide experience of acting for the firm’s clients, their family and their businesses. Guy’s experience as a lawyer started in the Northern and Welsh Circuits, including the Liverpool Courts, where he represented numerous clients after being called to the Bar, before opting to join Alexander JLO in 2017 and qualifying as a solicitor in 2024. He is a highly experienced family lawyer with a particular interest in financial remedy proceedings and child contact disputes.

Guy’s profile on the independent Review Solicitor website can be viewed here.